Mr. Mark Billings reports

AUXICO ANNOUNCES RESIGNATION OF PRESIDENT AND CEO

Auxico Resources Canada Inc.'s Frederick Kozak has tendered his resignation from the positions of president and chief executive officer of the company, effective May 31, 2023. Auxico would like to thank Mr. Kozak for his contributions while at the company and wishes him well in his future endeavours.

Pierre Gauthier, current chairman emeritus of Auxico Resources, has been appointed as president and chief executive officer given his extensive knowledge and understanding of the business and assets of the company.

"The terbium and dysprosium content within Auxico's Colombia and Brazil properties, combined with the patent-pending process for the separation of rare earths, puts Auxico in a unique position to provide refined light and heavy rare earths for the EV [electric vehicle] magnet industry," stated Mr. Gauthier, president and chief executive officer of Auxico Resources Canada.

About Auxico Resources Canada Inc.

Auxico Resources Canada is a Canadian company that was founded in 2014 and based in Montreal, trading on the Canadian Stock Exchange (CSE) under symbol AUAG and on the OTCQB Market under symbol AUXIF. Auxico is engaged in the acquisition, exploration and development of mineral properties in Colombia, Brazil, Mexico and the Democratic Republic of the Congo.

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